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Sample Appraisal Reports
Partnership Profiles' Sample Appraisal Reports are designed for practitioners to use when creating a new family limited partnership appraisal report or improving an existing report. The Sample Reports are designed to illustrate the use of both the Income and Market Approaches by incorporating strong supporting data into the valuation report.
Each report is spiral bound and designed for instructional use. It is a useful tool to get up to speed quickly. Purchasers are more than welcome to cite sections of the Sample Report in their valuation reports. The cost of a Sample Report is $495 and $395 for each additional Sample Report that is purchased at the same time. To order a Sample Appraisal Report, please Click Here.
The four reports that are currently available are listed below:
Report #11 – Income Producing Real Estate Report
This 50 page document is a complete report that values a noncontrolling, nonmarketable limited partnership interest in an income producing real estate partnership and a noncontrolling, nonmarketable interest in the general partner. The primary assets of the partnership are two office buildings. The report uses the Income and Market Approaches and demonstrates:
How to present the purpose of the appraisal, standard of value, sources of information, and disclaimers
How to present an overview of the appraisal, describe the operations, and calculate the NAV
How to present a financial analysis and economic industry review*
How to explain which approaches to value were considered and used
How to explain the calculation of a discount rate using REIT and PPI data**
How to forecast income and expenses for an income producing real estate partnership
How to explain the selection and application of guideline publicly held partnership data***
How to explain the calculation and application of a discount for lack of marketability
How to value a 1% general partnership interest and a minority interest in an LLC that owns the GP
*The report incorporates the 2007 Economic Report in the text. A $49 value.
**The report incorporates data from the 2007 Rate of Return Study in the text. A $99 value.
***The report incorporates data from Partnership Guideline Reports in the text. A $125 value.
Report #12 – Marketable Securities Report
This 63 page document is a complete report that values a noncontrolling, nonmarketable limited partnership interest that owns cash, bonds and equities. The assets of the partnership include 2 money market accounts, 26 municipal bonds, 29 stocks and 2 equity mutual funds. The report uses the Income and Market Approaches and demonstrates:
How to present the purpose of the appraisal, standard of value, sources of information, and disclaimers
How to present an overview of the appraisal, describe the operations, and calculate the NAV
How to present a financial analysis and economic industry review*
How to explain which approaches to value were considered and used
How to explain the calculation of a discount rate for a marketable securities partnership
How to forecast income, capital appreciation and operating expenses for a marketable securities FLP
How to explain the selection and application of guideline data from closed-end funds**
How to explain the calculation and application of a discount for lack of marketability
*The report incorporates most of the 2007 Economic Report in the text. A $49 value.
**The report incorporates data from both of the Closed-End Fund Guideline Reports in the text. A $250 value.
Report #13 – Mixed Assets Report
This 73 page document is a complete report that values a noncontrolling, nonmarketable limited partnership interest that owns cash, equities and real estate. The primary assets of the partnership include checking accounts, money market accounts, stocks, options, mutual funds and multiple real estate properties. The report uses the Income and Market Approaches and demonstrates:
How to present the purpose of the appraisal, standard of value, sources of information, and disclaimers
How to present an overview of the appraisal, describe the operations, and calculate the NAV
How to present a financial analysis and economic industry review*
How to explain which approaches to value were considered and used
How to explain the calculation of a discount rate for a mixed asset partnership
How to forecast income and expenses for marketable securities and real estate assets
How to explain the selection and application of guideline data from closed-end funds**
How to explain the selection and application of guideline publicly held partnership data**
How to explain the calculation and application of a discount for lack of marketability
*The report incorporates the 2007 Economic Report in the text. A $49 value.
** The report incorporates data from both of the Closed-End Fund Guideline Reports in the text. A $250 value. Also, the report incorporates data from Partnership Guideline Reports in the text. A $125 value.
Report #14 – Nonincome Producing Real Estate Report
This 54 page document is a complete report that values a noncontrolling, nonmarketable limited partnership interest in an nonincome producing real estate partnership. The primary assets of the partnership are two rural properties consisting of undeveloped land. The methodology that is used in this report can also be applied to other types of low income or nonincome producing properties such as beach houses, condominiums and investment properties. The report uses the Income and Market Approaches and demonstrates:
How to present the purpose of the appraisal, standard of value, sources of information, and disclaimers
How to present an overview of the appraisal, describe the operations, and calculate the NAV
How to present a financial analysis and economic industry review*
How to explain which approaches to value were considered and used
How to explain the calculation of a discount rate using REIT and PPI data**
How to forecast capital appreciation and expenses for an nonincome producing real estate partnership
How to explain the selection and application of guideline publicly held partnership data***
How to explain the calculation and application of a discount for lack of marketability
*The report incorporates the 2009 Economic Report in the text. A $49 value.
**The report incorporates data from the 2009 Rate of Return Study in the text. A $99 value.
***The report incorporates data from Partnership Guideline Reports in the text. A $125 value.
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